No-deal Brexit would plunge UK economy into recession – OECD

Annual growth will fall below 1% for first time in decade even with a deal, says thinktank

A no-deal Brexit would plunge the UK economy into recession and annual growth will slip below 1% this year for this first time since the financial crisis even if a deal is secured, the Organisation for Economic Cooperation and Development (OECD) has warned.

The thinktank, which advises 34 of the world's richest countries, said that even with a smooth Brexit, the UK economy would slump to 0.8% growth in 2019 from 1.4% in 2018 as Brexit uncertainty and Donald Trump's trade war with China harmed the UK's economic prospects. In November it was forecasting 1.4% growth for the UK this year.

Related: UK economy close to stalling amid Brexit uncertainty

Related: It's not Brexit Britain most likely to have a recession. It's Germany